BAIC Motor Reports Decreased Mid-Year Profits

BAIC Motor (HK:1958) has released an update.

BAIC Motor Corporation Limited reports a decrease in revenue and profit for the first half of 2024 compared to 2023, with unaudited interim results showing revenue dropping from 99 billion to 94 billion RMB and profit for the period diminishing from 8.55 billion to 6.87 billion RMB. Despite the downtrend, the company continues to operate profitably, with earnings per share at 0.25 RMB, down from 0.36 RMB the previous year. The report was prepared in accordance with international standards and reviewed by the Audit Committee and PricewaterhouseCoopers.

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